What Does the Historical and Current Soybean Food And Beverage Products Market Size Trend Indicate?
The soybean food and beverage products market has seen considerable growth due to a variety of factors.
•The market size for soybean food and beverage products has experienced considerable growth in the recent past. The market is set to expand from a value of $55.86 billion in 2024 to $58.85 billion in 2025, growing at a Compound Annual Growth Rate (CAGR) of 5.3%.
The historic growth can be credited to growing health awareness, benefits for cardiovascular health, the rising preference for dairy substitutes, government encouragement for soy farming, and the global expansion of food markets.
How Will the Soybean Food And Beverage Products Market Size Evolve over the Forecast Period?
The soybean food and beverage products market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for soybean food and beverage products is predicted to significantly expand in the coming few years. The market is set to inflate to $74.87 billion by 2029, with a compound annual growth rate (CAGR) of 6.2%.
This growth during the forecast period can be traced back to factors such as the surge in plant-based diet trends, the development of functional beverages, widening use in food processing, an increase in nutritional fortification, emergence of allergen-free products, and the broadening of e-commerce. The forecast period is set to see major trends including advancements in soy protein isolates, the popularity of clean label and non-GMO trends, the rise of soy beverages and dairy alternatives, sustainability, and ethical sourcing practices.
What Are The Core Factors Supporting Growth In The Soybean Food And Beverage Products Market?
The surge in demand for vegan food is projected to fuel the expansion of the soybean food and beverages market in the future. Vegan food, made without any animal or animal-derived products, encourages the use of cruelty-free and sustainable alternatives. A highly versatile ingredient, soybean can be incorporated into numerous vegan foods and offers a high-quality, plant-based protein option. For example, data from the US-based Plant Based Foods Association (PBFA) shows that in May 2023, sales of plant-based foods hit $8 billion, a rise of 6.6% (an increase from 5.9% in 2021). Hence, the growing urge for vegan food is a driving force for the soybean food and beverages market.
What Are The Major Segments Within The Global Soybean Food And Beverage Products Market?
The soybean food and beverage products market covered in this report is segmented –
1) By Type: Soybean Food Products, Soybean Additives Or Ingredients, Soybean Oil
2) By Source: Genetically Modified (GM), Non-Genetically Modified (Non-GM) Or Genetically Engineered (GM)
3) By Distribution Channel: Super markets, Hyper markets, Specialty Stores, Online Retailers, Convenience Stores, Departmental Stores, Other Distribution Channels
4) By Applications: Bakery And Confectionery, Animal Feed, Dairy Products, Functional Food And Supplements, Meat Products, Infant Foods, Other Applications
Subsegments:
1) By Soybean Food Products: Tofu, Tempeh, Soy Milk, Edamame, Soy Nuts, Other Soybean Food Products
2) By Soybean Additives Or Ingredients: Soy Protein Isolate, Soy Lecithin, Textured Vegetable Protein (TVP), Soy Flour, Other Soybean Additives Or Ingredients
3) By Soybean Oil: Refined Soybean Oil, Crude Soybean Oil, Soybean Oil Blends, Other Types Of Soybean Oil
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Which Trends Are Expected To Transform The Soybean Food And Beverage Products Market?
The primary trend emerging in the soybean food and beverage products market is product innovation. The main players in this market, like Otsuka pharmaceuticals co. ltd. in Japan, are striving to create novel soybean food and beverage products to help consumers gain the health benefits of soybeans. For example, in March 2022, the company introduced a series of creative whole-soy nutrition bars named SOYJOY. With the integration of fruits, nuts, and other ingredients in a gluten-free dough made from whole soybean flour, this product offers a variety of foods with unique textures and flavors. Furthermore, it promotes healthy snacking behavior with the added advantage of a plant-based selection. This makes it an enjoyable and efficient way to reap the benefits of soy, a notable source of plant protein.
Who Are the Key Players in the Soybean Food And Beverage Products Market?
Major companies operating in the soybean food and beverage products market include:
• Cargill Incorporated
• The Archer-Daniels-Midland Company
• Nestle SA
• Willmar International Limited
• CHS Inc.
• Danone SA
• Conagra Brands Inc.
• Kerry Group Plc.
• Caramuru Alimentos S.A.
• Kikkoman Group
• The WhiteWave Foods Company
• Patanjali Foods Limited
• Hain Celestial Group
• Monde Nissin Corporation
• Vitasoy International
• Barentz International BV
• The Scoular Company
• SunOpta Inc.
• Alpro
• Impossible Foods Inc.
• Pacific Foods of Oregon LLC
• Eden Foods Inc.
• Sotexpro
• Good Catch Foods
• Burcon NutraScience Corporation
• Bermil Group
• Rio Pardo Potential Vegetal S.A.
• Northern Soy
• Solbar Ltd.
• Galaxy Nutritional Foods Inc.
What Is The Most Dominant Region In The Soybean Food And Beverage Products Market?
North America was the largest region in the soybean food and beverages products market in 2024. The regions covered in the soybean food and beverage products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
